Finland: not in law; however, the law requires all employers, including nonunionized ones, to meet the minimum wages agreed to in collective bargaining agreements in each sector of the workforce; almost all workers are covered under such arrangements

Germany: none by law (but in discussion); collective bargaining agreements set minimum wages by job classification for each industry and region; however, these agreements apply only to employers who are full members of an employers’ association (the vast majority of German employers are members)

Hong Kong: applies only to foreign labor.

Iceland: none; minimum wages are negotiated in various collectively bargained agreements and applied automatically to all employees in those occupations, regardless of union membership; while the agreements can be either industry- or sector-wide, and in some cases firm-specific, the minimum wage levels are occupation-specific.

Italy: none by law; instead set by a collective bargaining agreements on a sector-by-sector basis; when an employer and a union fail to reach an agreement, courts may determine fair wages on the basis of practice in comparable activities, although this rarely occurs in practice.

Norway

Singapore

Sweden: none by law; set by collective bargaining contracts every year.

maddie said,

[…] have released a new book, carefully studying the economic effects of federal minimum wage. A small list of countries with no formal government-enforced minimum wage. And a paper by the same authors, […]

Ted said,

neal said,

Eric said,

None of these nations do not require minimum pay levels; they all rely instead on labor unions and collective bargaining. That is the same thing. Are there no nations on earth that have no worker pay standards?

trader said,

i hope u understand monopsonist and how it can affect the min wage. Scandinavian have labor unions in bargaining wage bcuz they understand the idea between monopsonist and min wage.

SECONDLY, u gotta understand that friedman comes from a perfect comp view pt. he is a monetarist and he has different view pt on the economy. of cuz the Unemployment will be a product when demand and supply are not in equilibrium.

and next thing u gotta READ is NAIRU or natural UE..At which stage will a min wage work, and when will it not work.

…And an ideal level of minimum wage is — what exactly? Is somehow price-fixing of the cost of labour any better for the economy than price-fixing of any other commodity? Does anyone in a real world hire the most expensive plumber for the job instead of the list expensive one?